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Tag Archives: Reg Z

EVENT: Financing FinTech: Prepaid Accounts

Posted in Events, Regulatory Developments

Thursday, October 27, 2016 5:00 p.m. – 5:45 p.m. EDT Join us for one of our upcoming monthly telephone briefings led by members of our FinTech team: The CFPB announced final rules on October 5 concerning prepaid accounts under the Electronic Fund Transfer Act (Regulation E) and the Truth In Lending Act (Regulation Z). The… Read More

#ThrowbackThursday: Summary of Final CARD Act Clarifications

Posted in Credit Cards, Regulatory Developments

In April 2011, Morrison & Foerster published the client alert “Summary of Final CARD Act Clarifications.” Summary: On March 18, 2011, the Federal Reserve Board (“FRB”) issued a final rule to clarify certain recent amendments to Regulation Z, particularly those implementing the Credit Card Accountability Responsibility and Disclosure Act of 2009 (“CARD Act”). While the… Read More

CFPB Amends ATR/QM Rule to Implement HELP Act

Posted in CFPB, Mortgage

On March 22, 2016, the CFPB issued an Interim Final Rule (the “IFR”) amending the ability-to-repay (“ATR”) and qualified mortgage (“QM”) provisions of Regulation Z. The IFR, which implements a portion of the Helping Expand Lending Practices in Rural Communities (“HELP”) Act, became effective on March 31, 2016. Before the IFR became effective, certain special… Read More

#ThrowbackThursday: Steps for Lenders to Consider in Connection with Mortgage Modification Programs

Posted in Mortgage

Originally published as a Morrison & Foerster client alert in October 2008. Banks are increasingly implementing mortgage modification programs in order both to settle class-action lawsuits and as a way to improve returns on their investments.  With housing prices continuing to decline, some lenders have found it increasingly cost-effective to allow borrowers to modify mortgages,… Read More

#ThrowbackThursday: Sweeping Prepaid Card Proposal Issued by CFPB

Posted in CFPB, Credit Cards, Regulatory Developments

In November 2014, Morrison & Foerster published the client alert “Sweeping Prepaid Card Proposal Issued by CFPB.” Summary: Today, the CFPB issued its long-awaited proposed rule to further regulate prepaid card products (the “Proposed Rule”). The Proposed Rule was the topic of discussion at a field hearing in Wilmington, Delaware, which featured remarks from CFPB… Read More

April Fool’s – Not

Posted in CFPB, Mortgage, Regulatory Developments

On April 1st, the Bureau issued updated exam procedures on the new TILA and RESPA rules.  They cover TILA RESPA Integrated Disclosures (applicable for exams after the August 2015 effective date), Higher-Priced Mortgage Loan Appraisals, Escrow Accounts, and Mortgage Servicing Requirements.  For more information on the new rules and their implementation, check out our handy… Read More